Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT

v3.19.2
LONG-TERM DEBT
 6 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]
NOTE 5: LONG-TERM DEBT
The Company’s long-term debt consisted of the following (in thousands):
 
   
As of September 30,
2018
    
As of March 31,
2018
  
TCW Term Loan
   $ 105,849     $ 90,424  
PNC Credit Facility
     22,002       33,107  
   
 
 
    
 
 
  
Total debt
     127,851       123,531  
Less: current portion
     (127,514 )      (7,500 ) 
Less: unamortized debt issuance costs 
(1)
     (337 )      (45 ) 
   
 
 
    
 
 
  
Long-term debt, net
   $ —       $ 115,986  
   
 
 
    
 
 
  
(1)
The unamortized debt issuance costs related to the Senior Secured Term Loan are presented as a reduction of the carrying amount of the corresponding debt balance on the accompanying condensed consolidated balance sheets. Unamortized debt issuance costs related to the PNC Credit Facility are presented within other assets on the accompanying condensed consolidated balance sheets.
As of September 30, 2018, the interest rates on the TCW Term Loan and the PNC Credit Facility were 14.5% and 8.25%, respectively.
As of September 30, 2018, the Company was required to maintain a $5.0 million restricted cash reserve as part of the PNC Credit Facility. This balance is presented as restricted cash within the accompanying condensed consolidated balance sheet as of September 30, 2018.